Thursday, November 24, 2016

Entrepreneur vs Solopreneur - Which One is for You?

Creative
infopreneurs, solopreneurs and mompreneurs … the world is taken up by a storm
lately of all kinds of –preneurs. But how are these business models actually
different and which one is right for you?

When
it comes to starting your own business, there are two main categories you may
fall into, depending whether you’d like to have a team, or you’d prefer to go
it… solo. :)

+ have a passion for
developing their own personal brand

+ operate entirely
on their own, have no business partners or team

+ when they need
help they would enlist professional services

+ are the actual
content creators + completely independent, which gives them total creative
freedom over the outcome

+ call all the shots, have
flexibility

+ build their business ahead of
existing resources (basically – they might start on a shoe-string budget and
grow from there)

--- their business may grow at slightly slower rate
than a multi-person business

---they are solely responsible for any failure and are
fully accountable for any business decision they take

+ set up a business
or create a company with hopes of making substantial profit

+ they are the face
of the business and typically don't do the actual work - they hire a person or
a team to do it instead

+ can count on
support from their partners if things start to go south

+ have a business
plan in place and might look into funding, with the intention of making the
company grow and potentially – sell it

--- may lose sleep over their business because it
would require more time and effort as it grows

--- typically need to make a considerable
investment of time and money upfront

* * * * * *

To sum it all up – while entrepreneurs focus
on their business,

solopreneurs focus on their
lifestyle.

***

So if you are interested
in taking a business and seeing it grow by leaving a team to do the actual work
and you merely overseeing and managing it – then entrepreneurship is for you.

But if you are actually
someone who wants to start his or her business primarily because you enjoy the
work that you do, but have relative simplicity around managing it – then you
have “solopreneur” written all over you. :)

So which kind of “-preneur” are you?

Drop me a message in the
comments below and feel free to share your own story, I’d love to hear from
you!